Where to find the Management Report
The Management Report sits alongside the stock reconciliation report for each finished count.
Open a finished stock count, or go to Insights > Inventory and open the reconciliation report.
Use the drop-down at the top of the report to switch from Reconciliation Report to Management Report.
The date range at the top of the report, for example 29 June 2025 to 6 July 2025, is the stock period. Every figure in the report covers that period.
Theoretical and actual: the difference
The Management Report shows most figures twice, once as theoretical and once as actual. Get these two straight first, because the rest of the report depends on them.
Term | What it means | Where the number comes from |
Theoretical | What your costs should have been if every recipe was followed exactly and every sale was rung through the point of sale (POS) correctly. | POS sales and the recipes linked to them |
Actual | What your costs really were, based on the stock you physically used. | Stock counts, deliveries, transfers, waste and batches |
Cost of Goods Sold
This section summarises how stock moved through the period and works out what it cost you.
Beginning inventory: total value of stock at the start of the period.
Deliveries: total value of stock delivered during the period.
Transfers: net value of stock transferred in or out, for example between your locations.
Ending inventory: total value of stock at the end of the period.
Cost of goods sold: what the stock you used cost you.
COGS Formula:
(Opening Count Quantity × Previous Closing Count Price)
+ (Delivered Quantity × Average Delivered Price)
+ ((Transfers Balance – CPU Delivered Quantity – Closing Count Quantity) × Current Item Price)
Actual vs target section
This section compares your actual financial performance with the theoretical target.
Figure | What it means | Formula |
Sales | Total value of sales recorded in the period. | From POS sales |
Cost of Sales (theoretical) | What your costs should have been, based on what you sold and your recipes. | Sold quantity × current item price |
Cost of Sales (actual) | What your costs really were, based on stock counts and stock movements. | (Opening count quantity × previous closing count price) + (Delivered quantity × average delivered price) + ((Transfers balance minus CPU delivered quantity minus Closing count quantity) × current item price) minus (Wasted quantity × current item price) + ((Batch created quantity minus used as batch ingredient quantity) × current item price) |
Gross Profit (theoretical) | The profit you should have made. | Sales minus Cost of Sales (theoretical) |
Gross Profit (actual) | The profit you actually made. | Sales minus Cost of Sales (actual) |
Total Variance | The difference between actual and theoretical profit. A negative number means you made less profit than expected. | Gross Profit (actual) minus Gross Profit (theoretical) |
Worked example
Here is one stock period with every component shown.
Sales: £1,000
Cost of Sales (theoretical): £300
Cost of Sales (actual): £340
Gross Profit (theoretical): £1,000 minus £300 = £700
Gross Profit (actual): £1,000 minus £340 = £660
Total Variance: £660 minus £700 = minus £40
Minus £40 means stock worth £40 more than your recipes and sales can explain was used. Because sales are the same on both sides, Total Variance is always equal to Cost of Sales (theoretical) minus Cost of Sales (actual): £300 minus £340 = minus £40.
How Total Variance relates to other variance figures
Total Variance is one of several variance figures in Nory. It is shown as a profit figure, while the reconciliation report shows variance as a stock value and Insights > Inventory shows a Gap figure. All of them come from the same standardised formula, so they should agree once you allow for how each treats logged waste and which way round the sign goes.
For a side by side comparison of every variance figure, see Stock reconciliation report explained.
How COGS feeds the Flash P&L
The Flash P&L in Insights gives you a quick operating profit figure for your brand. It uses theoretical COGS, not the actual COGS from stock counts.
Flash profit = Sales minus (COGS + Labour).
COGS on the Flash P&L is theoretical: items sold × recipe cost. It does not wait for a stock count.
Locations without Inventory Management switched on show 0 COGS on the Flash P&L.
COGS percentage is COGS divided by Sales. For example, £300 COGS on £1,000 of sales = 30%.
Why the Flash P&L COGS does not match my Management Report
The two pages answer different questions, so their COGS figures are usually different.
| Flash P&L | Management Report |
Type of COGS | Theoretical only | Theoretical and actual |
Needs a stock count? | No | Yes, it covers the period between two counts |
Period | The week or month you select | The stock count period |
When it updates | Recalculated through the day. | When the count is finished or the report is refreshed |
If theoretical COGS looks too high on both pages, check your item prices and pack sizes. A price entered against the wrong unit, for example a whole carton price against 1 ml, makes every recipe using that item look far too expensive. Once you correct the price, theoretical COGS updates in Insights > Inventory first and the Flash P&L follows.
What to do with this report
Use the Management Report each period to:
Review variances weekly to spot overspends or savings.
Investigate large actual variances, which can point to portioning, waste or training issues.
Watch for unexpected ingredient price increases.
Still not adding up?
If the Management Report or Flash P&L figures look wrong, contact support and include:
The location and the stock period or Flash P&L week
The figure you are questioning (for example Cost of Sales actual, Total Variance or Flash P&L COGS) and the value you expected
Any invoices, price changes or recipe changes made in that period
A screenshot of the report